DENVER, PENN. — At Morphy Auctions’ Premier Coins Auction, conducted on May 19, all that glittered was not gold, but it was a dazzling gold bar from California’s Gold Rush days that rose to the top of the successful $3.2 million sale. The result set a record as the highest-grossing coin sale by the firm. All 187 lots featured the largest offering of rare Mormon gold coins ever to come to public auction.
“We were ecstatic with the results. It was the highest-grossing coin sale in our history,” said Dan Morphy, founder, president and principal auctioneer. “Nothing in the sale had a reserve,” he continued. “We were very confident that collectors would recognize the rarity and exceptional quality of everything in the collection and that they would bid accordingly.”
The 48.7-ounce gold bar that led the boutique array of rare coins and currency was issued by Kellogg & Humbert Assayers, a San Francisco firm that operated from 1855 until around 1860. Embossed with the firm’s name as well as the stamped markings “No. 491,” “871 FINE” and the price, “$876.85,” the bar combined intrinsic mineral value with its historical importance from California Gold Rush era, making it irresistible to many collectors. It prompted numerous enquiries prior to the sale and on auction day was chased to a final price of $160,000, the lot’s high estimate. Prices quoted include the buyer’s premium. For more information, 877-968-8880 or www.morphyauctions.com.
